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The purpose of this paper is to make an analysis of the main issues of environmental or ecosystem services regulations in Argentina, and a brief reference of a selection of Latin American countries laws (Peru and Costa Rica). We implemented the documental observation and normative comparative methods. One of the main results is that during last year many bills of laws were presented at the National Congress, which guidelines might be useful as precedents. Notwithstanding, in parallel an integral evaluation must be made in order to state if some valid environmental laws should be or not abolished, in order to avoid new contradictions. One of the main limitations for the argentine case, is that there is not a specific regulation about environmental services. We can conclude that in the case of other countries of the region which already have regulated the ecosystem services payment, there are some relevant issues which might be taken into account for future laws and/or public policies in Argentina. [ABSTRACT FROM AUTHOR]

The paper examines the relationship between the performance of Latin American stock markets with their real economies, applying seven econometric models for the cases of Argentina, Brazil, Chile and Mexico. The relationship between stock market yields in these countries and their respective GDPS is examined and compared, applying to the series for each country unit root tests, cointegration analysis, error correction model analysis, Granger causality modeling, self-regression vector analysis, stimulus and response functions, and variance decomposition analysis. The series comprise the following stock markets: Argentina's MERVAL, Brazil's BOVESPA, Chile's IGPA, and Mexico's IPC, as compiled by Economática. The GDP series were obtained from the Cepalstat data base. The series are monthly and are for the period 1993-2005. [ABSTRACT FROM AUTHOR]